If you have just $1000 sitting in your bank account doing nothing, or even worse burning a hole in your pocket, then you have the means to make more money and make it surprisingly quickly.
Instead of frittering that money away on things that you’ll undoubtedly get bored with a few days, weeks or if you’re really lucky, months down the line, make it work for you and you’ll be so much better off.
Sound good? Here are a few fairly quick ways to invest $1000 and turn it into a little (maybe even a lot) more money in much less time than you might think possible:
8 Ways to Invest $1000
1. Play the Stock Market
The most obvious way of taking that $1000 and turning it into much more is by playing the stock market.
You literally have to do nothing more than buy stocks and then sit back and wait until they gain in value. Of course, it isn’t quite as simple as that because stocks and shares can lose value as well as gain,
So, if you’re serious about making profit you will need to learn how the stock market works and you’ll need to hedge your bets a bit by spreading your $1000 out across a range of stocks.
You can learn swing trading strategies here and everything you need to know about penny stocks here to get you started. Take it slow, build up gradually and in less time than you might think, you could be looking at a profit, although it is often a good idea to invest longer-term for even bigger gains.
2. Invest in Your Own Blog
Okay, so this will potentially take you a few months or more to start making a profit, but you can set up a really decent blog very quickly for less than $100.
Here’s an example of a blogger who not only earns over $10K/month blogging, but also sold a blog for $50K one year after starting it.
You can also check out how I earned $50,000 blogging in 2019.
And if you spend the rest of that $1000 on paying a writer to create great content and an SEO expert to optimize your blog, all you will need to do is add a couple of pieces of content every week and run ads or affiliate links to make a regular profit that comes in even when you are sleeping. What could be better than that?
3. Invest in Your Education
Investing in yourself is never a poor use of your funds.
If you have a $1000 to spare, why not invest in one of the many money-making courses online? Taking the time to ensure that you do your due diligence and choose a course that is actually worthwhile.
Or even better, in learning a skill such as programming or web design which will enable you to set yourself up as a freelancer so you can start making more money from home, online in just a few weeks’ time.
4. Trade in Commodities
Want more quick ways to invest $1000? Take that money and invest it in silver or gold and you could see its value rise exponentially in just a few short weeks.
Of course, just like stocks and shares, it is not a certain thing. So before you go down this route, you should take some time to research your metrics and find out which direction the commodities market might be heading in.
If you happen to be looking to invest when commodities are trading at the lowest price of their five-year range, then that is a pretty good indicator that you can make a profit too, so keep that in mind before you buy.
5. Invest in Antiques
Investing in antiques that you find at auctions, fairs and even in thrift stores can be a very lucrative way of turning a quick buck if you can get them for a good price.
All you need to do is resell them on the likes of eBay and Craigslist or even to antique stores, to make a nice profit online.
Spend your weekend bargain hunting, upload your finds on Monday and you could be a whole lot richer by Friday.
Just make sure that you choose antiques that are desirable and which you know are being sold at less than their worth or you could end up losing money or not being able to sell your goods at all.
6. Invest in Bitcoin
Cryptocurrency is another one of the best ways to invest $1000.
The Bitcoin market can be very volatile, so you should only do this if you can afford to potentially lose that $1000. But there is a fair chance that you will see returns, especially if you don’t mind waiting a little while before you cash in.
Read also: 7 Ways Small Businesses Can Benefit from Cryptocurrency
7. Become a Peer-to-Peer Lender
$1000 might seem like it’s not nearly enough to invest in a business and under normal circumstances, it probably isn’t. However, it is more than enough to contribute to a peer-lending site where several investors will get together to lend their cash to an entrepreneur.
Platforms like Peer Form and Lending Club, which are well established now should be your first port of call and if you choose your investment opportunity wisely and you don’t mind waiting a little while, there is no reason why you should not see decent returns on that $1000.
8. Create Your Own Course
Thanks to the internet, it has never been easier to create your own courses and sell them to people all over the world, and it can be a very lucrative thing to do.
So, instead of ways to invest $1000 in a traditional way, why not use it to hire some video equipment and possibly someone to film you, write a script and make a video that you can upload and charge a small sum for people to access.
There are numerous platforms like Craftsy and Udemy which will enable you to do this, or you could host your course on your own blog if you have one.
Then, spend whatever you have left over on marketing. There is every chance that, providing your course is a good one, you could have a regular source of passive income to help you earn more money each month.
What other ways to invest $1000 to make more money without too much effort do you know about?
